Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE2 Marks
Question
Write note on the current condition of Foreign Trade.
✓
Answer
As per the world trade Report$-2013$ the following concepts are found.
$(1)$ The population of the world has increased by six times since the middle of the 18th century and production of the world is increased by $60$ times and foreign trade has increased by $140$ times.
$(2)$ Transportation and communication expenses have remarkably reduced and diplomatic relations are developed between regions so trade has increased.
$(3)$ In the $30$ years in service sector trade average $7\%$ increase is recorded every year.
$(4)$ In the last some decades world trade growth rate has doubled than world production growth rate.
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